top of page
  • Veronika Ferstl

Obligation to report payments abroad: What you should know!

The reporting obligation for payments in and from abroad is a legal obligation that exists in Germany. It is used to monitor transactions of certain amounts between German individuals and foreign parties in order to uncover potentially suspicious activity.

In this short informative article, the basics of the reporting obligation in Germany are explained.

1. Who is required to report?

According to the Foreign Trade and Payments Act (AWG), both private individuals and

Companies in Germany are obliged to allow certain payments abroad

report. The obligation to report applies equally to natural and legal persons.

2. What payments need to be reported?

Payments that meet the defined reporting requirements. Currently these are

Limits at 12,500 euros per transaction. Note that the reporting requirement is not only

for money transfers, but also for other types of payment such as check payments or

Credit card payments applies.

So whenever you make an international transfer of more than 12,500 in Germany

must transact or receive EUR (or the equivalent in another currency).

you report this.

3. How is the notification made?

Payments abroad are usually reported electronically via the

so-called "Meldeportal Foreign Trade" of the Deutsche Bundesbank. There can

the necessary information to be transmitted in order to meet the reporting requirements

to comply

4. When must the report be made?

The report must be submitted no later than the 7th day of the month following the

transaction take place. It is important to meet the deadline because failure to comply with the

obligation to report can be punished with fines.

5. What information needs to be reported?

Various information is required when reporting payments abroad

be given, including details of the persons involved (name, address,

etc.), the purpose of payment, the amount and the currency.

6. Are there exceptions to the reporting requirement?

There are certain exceptions to the reporting requirement that do not require reporting

is required. Examples of this are payments under the normal

Movement of goods, certain transactions with EU member states or payments for

certain financial services. It is advisable to contact the if you are unsure

competent authorities or professionals.

Conclusion: The obligation to report payments abroad is an important legal obligation in Germany. By reporting transactions for specific amounts, potentially suspicious activity is identified and controlled.

This not only involves payments abroad, but also payments from abroad to Germany. For example, if the amount exceeds EUR 12,500, the Deutsche Bundesbank must be informed by the 7th day of the following month.

Adhering to reporting limits and deadlines is crucial to avoid potential fines.

If you are unsure, it is advisable to contact the responsible authorities, e.g. the Bundesbank's free hotline. Further information can also be found on the Bundesbank website:

1 view0 comments

Recent Posts

See All


bottom of page